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<br /> �$- U02843
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<br /> ��` MOFeFiTGAL:��'12""F `UR� COVENAl�'C�'A'hfD' '�CGREE3: .r
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<br /> That<:the Iv,�oclgagor �{��IJ p•y���y � t�� indebtedneas ea ��hereinbefore provided � � - . �
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<br /> � � That tKe Mortgagor �,is�, lhe Awner o[ said property in fee simple and hes gxd � riqht and lawful authority to sell and . . � . �
<br /> �' rnnvey the saml+�wd'�t��. �the aame is free and clear of any licn oc � mc[i*tiabf�nce; and� that;�M�rtgagor will warrant�ancl ,deter�al�ih�:�; , :r .���, � � �
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<br /> � � � title to said �premiees ' eqainst !he cla�i's: of alI pereone ��. whomaoever: . . . . . . .
<br /> . � �, , �, . . . . . . '.. .
<br /> � To pay�i��I�t�1y �vhen due and payahle all general taxvs, special taxes, specixl asvexsmenL�, water cher�eY, �p�r�eSN- -- - � -- � �
<br /> - . ice charges, and �� other taxes and charges against aaid property , and all taxes (evi�•cl on the drbt aerured hereby , und to furnish fhe � � � �
<br /> - Mortgagee, upon �rypi��vf�. with :'.t7i� idi�ginalia+r .diljilieatei�receipts .: �'hrrtifor. The MortRaRor aqrr��x that [here `�ha1K ; Dc-.�..ach�4djtor*��; :��„ . �
<br /> each monthly payment required hereunder rir undor the evidence uf debt secured h?re-by an amount e�limatrd by the Mnrtgagee � �
<br /> : to be eu6icient to enxble the� -Mo�lgagee�.to pay, as they become due, all taxes, nxesessments, and similur charKrv u�n the prem• 'r� � � ���-
<br /> . isiEs � xubject therekr, �any deficie-nry �twcause of the iasut£ciency o( such additional payments shrll Fe forthwith deposited by the � - �
<br /> �E ,4 M,qFlgago� w{th14he MV{tgaqea upon . demand by the Mortgagee. Any <lefnult undnr this paraKraph shall be decmed a dofault in �. � �
<br /> . . -paytrtent ' of' taxesr ��asee`smeAts, .. �r similar,.,C}largo .. re9uirecl., h�reun�Ier. ' : . .� ._ . . . . . . . . . . .
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<br /> . The Murtgugor agrees lhnt there sha11 altio tw added to rac}f mu'nthly 'payment of �principa} �anA mtemsE r'equired �� here• • � ^ � � �
<br /> � under an umount estimated by the A�Iortgaqee to be suAirient to enabl�� th�� M��rtgtigec tu pay , as it F�•comr�s due, thv insurance �� � . �
<br /> premium on uny insuranee policy delivered to the Murtgage�-. Any deficic ncy becaus�� of the• insu�cirncy nt such additional pay � � � � � � �
<br /> mentti �sha❑ be forthwith dep�ited by ihe MortRagor with t.he Mortgagre u�m demand by the MortKaR��� Any defaul2 tindvr this � � �
<br /> paragraph shnll t�e deamed a de(ault in the payment of inst� rancr premiums. If the �licy or policies �d�•pacited fll'F SLLCIt aS Frome- : . � .
<br /> owners or all rikk �xilicics, and the de�sits are ineuffiCicnt to pay thr rntirv� premium , the Mort{;aKec may apply thr drposit t� � � �
<br /> � pay premiumc on risks reyuired lo Ae. i�.surr.d by this morlRage. . . , � � � �
<br /> �,; _ ..t � .,. : ._ . . - � . , .. . - . •. . . : .: , � . . . , . . , . , , . .
<br /> �. Payments made by�:�Eha . lNorfgagor. undec-1}ie 'above: paragraphs �inay, . at - the optiod �;oE the Mprtgagee, �be bAltl �'�by it and �� . . .
<br /> ' commingled with other such" fyn�s qc;its <iwn � fundnjur �ttre payroent oE �sueh items. aad until ' so, applicKi, puch paymqntN �are hrrrby � � �
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<br /> � pledged as security fnr thr unpaid� balance _of thF� mertgu�e indebtednesy. � ��. . . . . . . . . _ , _ � _. . . � . . � � � ,�,
<br /> To procure, deliver fo, and mainl•ain [or th� }xmrfit of thN hturtgaqer during the lifr of this morlgHge original policies and �
<br /> renewals thereof, deliv�red at IPasl ten days t+e•fore tha ezpiration of any snch �Mlicics. insuring a�;ainst fire and othFr insurable � � -��
<br /> � hazards, casualties, und contingencies a� the Mortgagee may rEquire, in an amount equnl to the indebtednesa secured by this �
<br /> � Mortgage, and in companies acceptable to fhe Mortgagee, with luss paynb)c clause in tavor �if and in furm acceptahle to the Mortga- � � � � � �
<br /> gre. In the event any policy is nut renewevl <�n nr tx,f�� re• ton riays uf iLti rxpiration, thr MortRagce may prucurr insurance on the �
<br /> � improvemenfs, pay d�e premium therefor, end euch sum shull hecnme immediately du�� �nd pnyable with interrst at the ratP sel �� . �
<br /> : forth in said note until paid nnd sha❑ bc: ,c•currd by this mortgaK�'- Failure on the part of the Mnrtgagor to (urnish such renewal8 � � � � . �.
<br /> as ate herein required or laifure to pay any sums advanced hF•rNund�r shall, at the optiun of the Mortgagee, cunstitu[e a default � � � � �
<br /> � vnder the terms o[ this mortgnge. 'I'he �lelivery of such pulicies vhnll , in the rvent ot de�fault, conxti [ute an ass��;nmrnt o[ the un- - - . . �-�
<br /> �� eamed premium. � . � �
<br /> I Any snms receivr,d by lhF Mottgagee by reavon of lusr or damage insured against may be retainrd by the hiortgagee � � �
<br /> , and applied toward the payment uf the debt hereby secured, or. at the option of the MortgaKee, such sums either whully or in � . � �
<br /> part may be paid over to the Murtgagor to be uned to repair such buildings or to build ' new buildings in thrir placr ur tur any � � � �
<br /> - other purpoae or object sati�factory to the MurtgagE•e withouf aRPctinK thr lien ��n the mortgage for thr (ull amount srcurvd here- � � � g� ' '
<br /> � by be(ore such payment ever took place. � � � � � -���*-
<br /> . '� (-:+r� �
<br /> Tu prumptly repuir, r�tore ur rebuild any buildings or impravemenis now ur hereafter on the premiers wh 'sch may be-
<br /> , come damaged or destroyed : to keep said premises in good condition and repnir and free trom any mechanic'x tien or other lien or � . �
<br /> � CY8im of lien not expressly subondinated to the lien hereof: not to sufier or permit any unlawful uye o[ or any nuisance to exist on � �
<br /> � said property nor to permit waste on said premiaes, nor to do any other act whereby thr pruperty hereby conveyed shell become .� . � � � .
<br /> lees valuable, nor to diminish or impeir its value by any ect or omission to ack to comply with aIl rnquirements uf law with respect � �
<br /> - to the mortgaged premises and the use thereot �
<br /> That should the premi.�s or any part thereo( be taken or damagrd by rr,�sun uf anc public improvement or condemnation . -
<br /> proceeding, or under the right of eminent domain, or in any other manner, the hiortgagee sha❑ be entiqed to all compensations. � � � � �
<br /> awards, and any other payment or relief therefor, and shall be entitled, at its option, to commence. appear in� and � prosecute � in� it+� � � � � . �
<br /> own name any action or praceeding, or to make xny compromise or setUement in connPction with such taking or damage. AI1 such . �
<br /> �� compenantion, � awarde; � damages�, � right � of �action and proceeds are hereby asaigned to the Mortgagee, who may, atter � deducting . � � � �
<br /> � therefrom al! �its� expeneee, releese �eny moneys so received by it or apply the same on any indebtedness secured hereby. The. Mort• �
<br /> gagor agsees to axecuta such further axnignments of any compen!�ntion, awnrds_ damages, and righLv of actiun and nrxeeds as the � � . � � �
<br /> . Mortga�tee . may �require_� - . . . � � . , � . � .
<br /> �. That in case o[ failure to perform any of lhe covenants herein, thr Mortgagee may do on the Mortgagor's � F�ehal[ everything � � � � � �
<br /> : so mvenanted; that the Murtgagee may aleo do any act it may deem necessary tu protect the lien thereof; that the Morlgagor wiU . - .
<br /> repey -upon � demand any moneys �paid � or disbursed by the Mortgagee for any of the above puryoses, and vuch moneys toRetfier with , .. � � . �
<br /> iatEcest thereon af the tate -provided in aaid note ahall become so much additional indebtedness hereby secured and may he in- ' �� � . .
<br /> � cluded in any decree foreclosing this mortgaqe and be paid out of the rentr or proceeds o( sale of neid premi�s if nnt otherwise � �
<br /> paid: that it shall not be obligatory uyon the Mortgagee to inquire into the validity of any lien. encumbrances, or claim in ad- �
<br /> ! vancting �taoneys � as above . authorized, . but nothinq herein contained shall �be construed es requiring the Mortgagre to advance any y
<br /> tnoneye for� any �ench purpose nor to � do any act hereunder; and that Mortgagee shall not incur any persunal liability F�ecaane o! any-, :'i"°� ��
<br /> � thons , it.may� do. or nmit to do hereunder. -'� �
<br /> . � � ' In� the evenL of the de[ault hy MortgaRor in the payment ot any inatallment, xs requirrd My th� NotP secured hrreby, or �
<br /> in Lhe performance of the obligation in this �mortgage or in the note secured thereby, the Mortgagee shall be entitled to dxlare the � � �
<br /> � � . dcbt..aecured hgreby due.:.and pay�ble without notice, and _the Mortgagee shall be entitled at its option, without notice, either by itsel[ t
<br /> � - oq , '�A recerver to be appbinted 1iy the court tfiezeof, and� without regard to the �adequacy o( � any �securit for the indebtedneas se• �
<br /> � � y � y�._ '
<br /> ciareb hereby, to enter upon and fske pos§esaion of the mortgaged premises, and to rnilect and receive the rents, ixeuey and profitn ,. - , " ' �
<br /> '� � - � �� ttaereot and' apply ttie•.:aame: .leae coet+� of -operstion �and collechon, upon the � indebtednes,s i+ecured hy this mortgage, said � renta, � � �,w,� '
<br /> . iesl�es''and piofife �eind��hereby��a9signed to�the' MorEgagpras (vrtlier� wecurityfor Ehe paymen! o( atl indebte<Irirss�ie�ure'rl �hetelry." ` � � •,
<br /> � The. Mortgagee shap have !he power to a . . � . . . . � . . . . � . . . . . . ..�� � � �� s�
<br /> ppoint any agent or agents it may desire for the purpoae o( repairing said prem• '
<br /> r\ iaea:� .rgntirig 'the name collecting �the, renta, reqenues ,and income, and it may pay out o[ said income all expenses ineurrcd . in renP t .�-. �•
<br /> f � inig � and managing the �same �and of �coliecting `tHe - renfals� therefrom.� �The balance remaining, - if � any, shaU be applied toward the 6 � j4�
<br /> � discharge ��of the mortgage �ndebtrdness_ This aseignment is to terminate and become null and void upon release ot this mortgage. �� ' ���..,, f, � �
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